12:14 - 1.09.2025

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September 1, Fineko/abc.az – Gold prices rose to a more than four-month high during Asian trading on Monday, supported by hopes of a Federal Reserve rate cut this month, while concerns over the Fed’s independence and uncertainty regarding U.S. tariffs boosted demand for the precious metal as a safe haven.

According to ABC.AZ, spot gold increased 0.9% to $3,480.56 per ounce, the highest level since mid-April. December gold futures jumped 1% to $3,551.82 per ounce by 09:55 Baku time.

Gold prices have been rising for the fifth consecutive day following a nearly 5% surge in August.

In other metals markets, silver prices reached a 14-year high.